Licensing will not be implemented for import of computers and laptops in the country. However, shipments of these devices will be monitored. Earlier in August, the central government had announced the implementation of the license requirement for import of certain products including computers, laptops and tablets from November 1. Commerce Secretary Sunil Barthwal told reporters, “We believe that there are no such restrictions on laptops. We are only saying that the import of laptops should be monitored. We are only monitoring. There are no such restrictions. Are not.” In this regard, the Director General of Foreign Trade (DGFT) has said that there will be an import management system for this. It will be implemented from November 1. The regulation of IT hardware industry is with MeitY. DGFT notifies decisions related to import or export of any product. However, the IT hardware industry has expressed apprehensions regarding this. An industry source said, “It will be like an import management system in which an authorization will be issued to people. It is a type of licensing.” In this, companies will have to request for a specific number of imports and they will get authorization for import. Samsung, one of the big consumer electronics companies, has prepared to increase manufacturing in the country. The company’s smartphones are already being produced in the country. Samsung also plans to manufacture laptops at its factory in Greater Noida, Uttar Pradesh. This will give a boost to the Make in India scheme of the Central Government. Under this scheme, incentives are given for electronics manufacturing. Samsung has prepared to set up a new laptop manufacturing unit in the factory that produces smartphones. This unit will have the capacity to manufacture 60,000-70,000 laptops annually. The government had announced a $2 billion manufacturing incentive scheme with an aim to attract large investments in IT hardware manufacturing. The government aims to increase the annual production of electronics to $300 billion by 2026. Big companies selling laptops in the country include Apple, Dell, Lenovo and HP, Acer, Samsung and LG. A large number of laptops are imported from countries like China.
Tag: tax
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There will be no need of licensing for import of computers and laptops in India
Licensing will not be implemented for import of computers and laptops in the country. However, shipments of these devices will be monitored. Earlier in August, the central government had announced the implementation of the license requirement for import of certain products including computers, laptops and tablets from November 1. Commerce Secretary Sunil Barthwal told reporters, “We believe that there are no such restrictions on laptops. We are only saying that the import of laptops should be monitored. We are only monitoring. There are no such restrictions. Are not.” In this regard, the Director General of Foreign Trade (DGFT) has said that there will be an import management system for this. It will be implemented from November 1. The regulation of IT hardware industry is with MeitY. DGFT notifies decisions related to import or export of any product. However, the IT hardware industry has expressed apprehensions regarding this. An industry source said, “It will be like an import management system in which an authorization will be issued to people. It is a type of licensing.” In this, companies will have to request for a specific number of imports and they will get authorization for import. Samsung, one of the big consumer electronics companies, has prepared to increase manufacturing in the country. The company’s smartphones are already being produced in the country. Samsung also plans to manufacture laptops at its factory in Greater Noida, Uttar Pradesh. This will give a boost to the Make in India scheme of the Central Government. Under this scheme, incentives are given for electronics manufacturing. Samsung has prepared to set up a new laptop manufacturing unit in the factory that produces smartphones. This unit will have the capacity to manufacture 60,000-70,000 laptops annually. The government had announced a $2 billion manufacturing incentive scheme with an aim to attract large investments in IT hardware manufacturing. The government aims to increase the annual production of electronics to $300 billion by 2026. Big companies selling laptops in the country include Apple, Dell, Lenovo and HP, Acer, Samsung and LG. A large number of laptops are imported from countries like China. -
Maruti Suzuki accused of evasion of customs duty, company receives notice
The country’s largest car maker Maruti Suzuki has been accused of evasion of customs duty. The Customs Department has given a show cause notice to the company for this. The Customs Department has accused Maruti Suzuki of evading customs duty worth more than Rs 16 lakh. The company has informed in a regulatory filing about receiving a show cause notice from the Customs Department. Maruti says that it will file a reply to this notice. The company is accused of unfairly obtaining BCD concession on the basis of using imported goods from foreign suppliers. Maruti says that this show cause notice will not have any impact on its functioning. Earlier, apart from a notice from the Income Tax Department, the company had also received a show cause notice regarding GST. The Goods and Services Tax (GST) authority had issued a show cause notice to the company demanding outstanding tax of Rs 193.3 crore. Last month, Maruti had its highest monthly sales in a month. The company has sold more than 1.81 lakh units in September. This is an increase of three percent compared to the same period last year. The demand for the company’s SUVs and other utility vehicles has increased rapidly. Maruti’s Grand Vitara and Brezza are getting good response from customers. The company’s sales in this segment have increased by more than 80 percent. Maruti has the first position in the SUV segment. Its models like Fronx and Jimny also have strong demand. Last month the company’s sales stood at 1,81,343 units. Out of this, more than 1.50 lakh units have been sold in the country. This is an increase of two percent compared to September last year. In the first six months of the current financial year, Maruti’s sales in the country have crossed 10 lakh units. This is the first time that Maruti has crossed the sales mark of 10 lakh units in six months of a financial year. Apart from SUVs, the company also sells MPVs like Ertiga, XL6 and Invicto in the utility vehicle segment. Its sales in this segment have increased by about 82 percent compared to the same period last year. The company has sold 59,271 units in the utility vehicles segment. For this, Brezza and Grand Vitara have been the best selling models in this segment. -
Hero MotoCorp gets a shock, fraud case registered against the company
A case of forgery and criminal conspiracy has been registered against Hero MotoCorp, one of the largest two-wheeler companies. In this case filed by Delhi Police, the company has been accused of taking tax credit of about Rs 56 lakh by making fake bills of more than Rs 5.9 crore. According to a media report, the complaint has been filed by Brains Logistics Pvt Ltd and it has named Hero MotoCorp along with its main employer Pawan Munjal and executives Vikram Sitaram Kasbekar and Hari Prakash Gupta and an auditor. In response to this, Hero MotoCorp is issuing a statement saying that this is an old matter and the names of any executives are not involved in it. The complaint alleges that the company, in connivance with Munjal and Kasbekar, had raised fake bills of over Rs 5.9 crore for 2009 and 2010 and created fake debit balances in its accounts for Brains Logistics Pvt Ltd. It also alleges that Hero MotoCorp had taken fake CENVAT (service tax) credit of more than Rs 55 lakh. In this case, Hero MotoCorp has been accused of cheating the Income Tax Department and Brains Logistics Pvt Ltd. It said the company had never issued or deposited the fake bills. Recently Hero MotoCorp launched Karizma XMR. The company has re-introduced this popular motorcycle with a new design. The new Karizma has a 210 cc engine. Its price is Rs 1,82,900 (ex-showroom). It has a 210cc 4V liquid cooled engine which generates 25.5Ps of power and 20.4Nm of torque. This motorcycle has been made available in Iconic Yellow, Matte Red and Phantom Black colors. It has features like LCD digital instrument cluster with Bluetooth connectivity, turn by turn navigation, adjustable windshield, slip and assist. This motorcycle has disc brakes at the front and drum brakes at the rear. It has sharp and sleek LED headlamps with LED daytime running lights. -
Apple, Samsung and HP stopped import of laptops in India, government has imposed ban
Apple, Samsung and HP, among the big companies manufacturing devices, have stopped the import of laptops and tablets in India. The central government had on Thursday banned the import of these devices without a license. Its objective is to increase local manufacturing of electronics. However, this decision of the government has dealt a big blow to companies manufacturing personal computers, laptops and tablets. Most of these companies import these devices for sale in the country. In the Bloomberg report, quoting sources having knowledge of this matter, it has been said that these companies are in talks with the government to soon get a license to import these devices. For them the festival season is very important in terms of sales. Queries sent to Apple, Samsung and HP in this regard did not receive any response. This may increase problems for companies like Apple and Samsung. These companies are already struggling with excess inventory in the international market and slowing growth. This decision can have a big impact on the import of laptops and personal computers from China. The import of electronics in the country during April to June was approximately $19.7 billion. This included laptops, personal computers and tablets. In this regard, it was stated in the notice issued by the government, “Import will be allowed on valid license for limited import.” The share of electronics in the country’s total merchandise imports is 7 to 10 percent. Ali Akhtar Jafri, former director general of MAIT, an organization associated with the electronics industry, says, “The purpose of this decision is to increase manufacturing in the country.” Through production-linked incentives, the government is trying to increase local manufacturing in more than two dozen sectors including electronics. With an aim to attract large investments in IT hardware manufacturing, the government has extended the deadline to apply for the $2 billion Manufacturing Incentive Scheme. This scheme is important to make the country a major force in the global electronics supply chain. The government aims to increase the annual production of electronics to $300 billion by 2026. Big companies selling laptops in the country include Apple, Dell, Lenovo and HP, Acer, Samsung and LG. A large number of laptops are imported from countries like China. -
Government will not impose additional tax of 10 percent on diesel cars
The central government is not considering the proposal to impose additional Goods and Services Tax (GST) of 10 percent on diesel cars. Road Transport and Highways Minister Nitin Gadkari has given this information. A large number of diesel-powered vehicles are used in the country. However, a news agency report on Tuesday quoted Gadkari as saying that a proposal to impose additional 10 percent GST on diesel vehicles will be given to the Finance Minister. After this, Gadkari gave a clarification on X (earlier Twitter) saying that the government is not considering any such proposal. According to this report, the proposal to impose additional tax on diesel vehicles will be given to the Finance Minister by Gadkari. Its objective was to stop automobile companies from manufacturing and selling diesel engine vehicles. Gadkari had said that if the automobile industry does not stop making diesel cars, the government will increase the tax so much that it will become difficult to sell diesel vehicles. Gadkari has said in clarification regarding this that the government is not considering any such proposal. He said, “There is an immediate need to clarify media reports regarding additional 10 percent GST on the sale of diesel vehicles. It is important to clarify that the government is not considering any such proposal. Our carbon net by 2070 “With the commitment to achieve zero and reduce air pollution caused by harmful fuels like diesel, it is necessary to use environment friendly alternative fuels. These fuels should be import substitutes, low cost, indigenous and pollution free.” In the report regarding imposition of additional tax on diesel vehicles, Gadkari was quoted as saying that diesel is a harmful fuel and the country imports it in large quantities. The automobile industry should reduce its production of diesel engines. If this does not happen then the government will be forced to increase the tax on diesel vehicles. Gadkari had recently launched a car that runs completely on ethanol. In many other countries too, emphasis is being laid on vehicles running on alternative fuels.